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Schaeffer's Option Activity Alert: Skepticism Surges Toward Struggling Legg Mason, Inc.

  //business-finance.news-articles.net/content/200 .. ism-surges-toward-struggling-legg-mason-inc.html
  Published in Business and Finance on Friday, January 30th 2009 at 10:56 GMT, Last Modified on 2009-01-30 10:57:10 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--Baltimore-based Legg Mason, Inc. (NYSE: LM) is a financial services firm, so you can probably take a wild guess as to how the stock is performing. However, LM can't blame its poor price action entirely on the recent meltdown in financial markets; the stock has trended consistently lower since the first quarter of 2006.

In fact, from its February 2006 peak near 140, the equity has given up 88% of its value. Throughout its long-term slide, LM has been smacked lower by resistance from its 10-week, 32-week, and 80-week moving averages. The stock has finished just 1 week atop this trendline trio in nearly 3 years.

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